Amgen upped to buy at UBS

LONDON (MarketWatch) -- Amgen
AMGN, -2.09%
was upgraded to buy from neutral by UBS which lifted the company's price target to $70 from $63. "The pending approval and launch of denosumab should serve as a catalyst for shares, as we view this as the highest profile product launch in biotechnology over the next several years. In our model, we estimate total worldwide denosumab revenues will climb to $2.5 billion by 2013," the broker said.

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